Airlines Financial News

By David Shepardson

captain of the flight reportedly asked his junior to take over the command as he needed to rest. The 28-year-old took the responsibility of flying the aircraft but dozed off as he was tired of helping his wife with the childcare of their one-month-old twin babies. Meanwhile, the Air Traffic Controller (ATC) attempted to contact the pilots on board Batik Air flight but received no response.

Domestic airlines are anticipated to report a decreased net loss of Rs 3,000 to 4,000 crore in the current and next financial years, boosted by robust passenger traffic growth and pricing discipline, according to a report released on Monday (March 11). 

MUMBAI : IndiGo co-founder Rakesh Gangwal on Monday offloaded a larger-than-anticipated 5.8% stake in InterGlobe Aviation Ltd, the parent company of the airline, through a block deal on BSE. This sale follows previous divestments by Gangwal and his family, indicating a gradual reduction in their shareholding in the company.

Shadowfax, on Monday, announced the opening of its inaugural hub and distribution centre in Port Blair. The company calls it a significant milestone in its journey to reach 100% or almost 20,000 pincodes of India by March’2025. With the newly established hub in Port Blair, Shadowfax aims to foster inclusivity in its service network, ensuring every corner of the country receives seamless access to its array of offerings. E-commerce enterprises, Small and Medium-sized Enterprises (SMEs), Direct-to-Consumer (D2C) brands, marketplaces, and most importantly the island's residents can anticipate a comprehensive suite of services, spanning from Reverse Logistics to Express Delivery. Leveraging strategic partnerships with leading airline companies, Shadowfax plans to deliver speed and efficiency, including assured Next-Day Delivery to the island. It will also provide reverse shipping services, doorstep quality checks, and hand-to-hand exchanges. The island customers can also expect location-based delivery via Shadowfax’s proprietary product SF Maps – an AI driven mapping system.

(Reuters) — U.S. stock index futures slipped on Monday, as investors awaited key inflation figures this week that could provide cues on the Federal Reserve's monetary policy path, after a mixed jobs data reinforced expectations that it will begin easing by mid-year.

IndiGo Co-founder Rakesh Gangwal is believed to have sold around 2.6 crore shares or 6.7% equity in a block deal worth over Rs 7,000 crore of the airline in a large block deal on Monday. While the stock fell initially, it traded around 2% higher at Rs 3,156 on BSE in the late morning session. Details of the transaction would be known only in the evening hours when exchanges release bulk and block deals data. Bloomberg reported that Gangwal had offered the shares at a floor price of Rs 2,925.

(Reuters) — Pilots at Qantas Airways units Network Aviation and QantasLink will conduct a fresh strike this week as they continue to demand for higher pay, the Australian Federation of Air Pilots said on Monday.

(Reuters) — Delta Air Lines Inc (NYSE:DAL) expects the deliveries of Boeing (NYSE:BA) Co's 737 Max 10 aircraft to be pushed out to as late as 2027, as the planemaker faces federal safety and criminal reviews, Bloomberg News reported on Sunday.

Boeing acknowledged the loss in a letter to Congress.

Vistara was plagued with sudden mass sick leave reported by pilots that impacted its flight operations across India leading to the cancellation and delay of flights. The delay was also caused due to the mandatory maintenance requirements for some aircraft and other operational reasons. As of now, over a dozen flights have been cancelled, and a large number of Vistara flights have been delayed for over a week.

₹1,453 crore for air tickets booked during the covid-19 pandemic from travel aggregators, including Yatra, MakeMyTrip, ClearTrip, EaseMyTrip, Ixigo and Thomas Cook, two persons aware of the matter said. Only ₹3 crore remains to be refunded after CCPA, a regulatory authority of the consumer affairs ministry, took up this issue of long delays in refunds to consumers by travel aggregators, the persons cited above said. The travel aggregators on their part have been blaming airlines, the first among the two persons cited above said.

Delhi High Court has issued a show-cause notice to the resolution professional of crisis-hit 'Go First' airline, asking why contempt proceedings should not be initiated against him for prima facie willfully disobeying judicial orders on allowing inspection and maintenance of lessors' aircraft. The high court said the RP (Resolution Professional) cannot plead difficulties in the implementation of the October 12, 2023, judgment after contempt proceedings have been filed by a lessor seeking to enforce court orders. «Prima facie, the orders of this court have been wilfully disobeyed by the respondent/ RP. Issue notice to show cause as to why proceedings of contempt be not initiated...,» Justice Tara Vitasta Ganju said. The counsel for the RP submitted that he was willing to revert to the position regarding the maintenance of the aircraft.

GPS signals that deceive on-board plane systems and complicate the work of airline pilots are surging near conflict zones, industry employees and officials told AFP. A ground collision alert sounds in the cockpit, for instance, even though the plane is flying at high altitude — a phenomenon affecting several regions and apparently of military origin. This includes the vicinity of Ukraine following the Russian invasion two years ago, the eastern Mediterranean and the air corridor running above Iraq, according to pilots and officials interviewed by AFP.

Kazakhstan with its hackers penetrating the telecom sector of the region’s biggest country. Kazakhstan’s National Computer Emergency Response Team (Cert.kz), has recently alleged that a group of Chinese hackers had access to the infrastructure of Kazakhstani telecommunication operators for two years, according to persons familiar with the development. Kazakhstan’s Ministry of Defence and the country’s national airline may have been one of the targets. At least one Chinese hacker group had full access to the critical infrastructure of Kazakhstani telecommunication operators in the past two years. The Kazakh Digital Development, Innovation and Aerospace Industry Ministry said in a statement on 20 February 2024 that it has, together with the National Security Committee, (KNB), begun analyzing the leaked information to learn more.

The Justice Department has started a criminal investigation into the Alaska Airlines incident where a door panel blew out mid-air two months ago, The Wall Street Journal reported Saturday.

that blew out on an Alaska Airlines flight over Oregon two months ago. “We have looked extensively and have not found any such documentation," Ziad Ojakli, Boeing executive vice president and chief government lobbyist, wrote to Sen. Maria Cantwell on Friday.

Karnataka high-level clearance committee chaired by chief minister Siddaramaiah on Friday approved an investment of Rs 2,095 crore from Wistron Infocomm, along with six new proposals and eight additional investment proposals. Wistron Infocomm has sought 15 acres of land at Narasapura industrial area in Kolar to assemble smartphones, IoT products and biotech devices.

Indian pilots are exhausted, battling erratic schedules, consecutive late-night departures and excessive hours. Yet airlines are pushing back against new rules from the aviation regulator that mandate longer breaks and shorter work hours for cockpit crew. Fearful of higher costs and restricted operations, carriers want to delay implementation. They shouldn’t. Instead, India’s aviation industry needs to embrace these rules quickly with the understanding that safer skies and a greater emphasis on working conditions can only help business and lure more customers. The pain of tighter working hours will be short-lived, but the the benefits will be enduring.

Despite fire engines on standby at Los Angeles International Airport, they were not required as the Boeing 777 executed a smooth landing, stopping about two-thirds of the way down the runway, confirmed airport spokesperson Dae Levine. The aircraft was subsequently towed away.

(Reuters) — Boeing (NYSE:BA) is overhauling how it pays employee bonuses to emphasize quality and safety, following production problems found after Alaska Airlines door plug blowout, the Wall Street Journal reported on Thursday.